According to foreign media reports, affected by the decline in basic metals prices in recent years, the Japanese mining and smelting company plans to invest hundreds of millions of dollars in the field of electric vehicles, smart phones and other electronic equipment.
These companies include Sumitomo commercial metal (Sumitomo Metal Mining), the mineral company of Japan JX mining and metals company (JX holding company).
In the case of smelting and metal mining slump, these companies want to find a stable source of profit. They hope to take advantage of the big car manufacturers to promote the opportunity to enter the field of electric vehicles, but also hope that some of the future of Internet related equipment can use their products.
Sumitomo commercial chairman Yoshiaki Nakazato said: "we want to build an early outside the mining and smelting company third economic sources."
Special materials are metal forged including metal powder, metal sheet and metal sheet, these materials are used to create a very thin film used as electric vehicle, intelligent mobile phone, air conditioning and electric cooker batteries.
Although these materials need to consume a lot of manpower and material resources, but also bring high profits for them.
Sumitomo commercial is Japan's largest nickel smelter, it will invest 18 billion yen ($153 million) to increase the yield of cathode materials, the cathode material is lithium battery supply Tesla Matsushita Electric cars.
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